“Negative public opinion could damage our reputation and adversely impact our business and revenues

As a financial institution, our business and revenues are subject to risks associated with negative public opinion. The reputation of the financial services industry in general has been damaged as a result of the financial crisis and other matters affecting the financial services industry, including mortgage foreclosure issues. Most recently, negative public opinion concerning the financial services industry has been evidenced by the Occupy Wall Street demonstration that has spawned similar protests in major cities and communities throughout the U.S. and worldwide.

Negative public opinion about us could result from our actual or alleged conduct in any number of activities, including lending practices, the failure of any product or service sold by us to meet our customers’ expectations or applicable regulatory requirements, governmental enforcement actions, corporate governance and acquisitions, or from actions taken by regulators and community organizations in response to those activities.”

Comments (3 of 3)

This has been (or will be) standard "boiler plate" language in all financial statements, so someone cannot successfully sue for not fully disclosing ALL risks. The added, enhanced, OWS and mortgage foreclosure reference paragraph is simply meant to reference current events. Many, many people look for deep pockets for compensation, or to compensate for their risk taking, ...yet everything ......EVERYTHING we do, ....every decision we make..... and every association we undertake has risk. There are just too many hungry lawyers, .......and people willing to frivolously sue for financial gain.

As a result of recent events, the bank and others are just doing what they must do to protect their business, and other stakeholders, in a litigious society, should they become a "news" target based upon fact.... or fiction, in a manner that negatively affects their business. Nothing more, ....nothing less.

12:12 pm November 14, 2011

Jan Slathon wrote :

It will be near to impossible to change public opinion after experience the voracity and abusive behavior of all the main subjects involved in the financial system

11:59 am November 14, 2011

"BINGO"... "Follow the Yellow Brick Road"! The OZ... wrote :

SO... great story... Washington and Wall Law-less Street just doesn't get it! 66.6% of the paying tax payers are feed up with the lies, coruption and day light theivery that these crooks have bestoed upon... "A Once Great Nation"!

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